LPL Financial Portfolio holdings
LPL Financial, founded in 1989 through the merger of Linsco and Private Ledger and headquartered in San Diego, California, is the largest independent broker-dealer in the U.S., supporting over 22,000 financial advisors who manage more than $1.4 trillion in advisory and brokerage assets as of late 2024. Serving independent advisors, banks, and credit unions, LPL provides a robust technology platform, research, and back-office support, enabling advisors to offer personalized wealth management, retirement planning, and investment services to clients without proprietary products. The firm, publicly traded since 2010 under CEO Dan Arnold, has grown through acquisitions like Waddell & Reed’s wealth management business in 2021, emphasizing flexibility and advisor autonomy. With additional offices in Fort Mill, South Carolina, and Boston, LPL Financial remains a leader in empowering advisors amid a shifting financial landscape.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Core S&P 500 ETF
IVV
|
+$503M |
| 2 |
iShares S&P 100 ETF
OEF
|
+$496M |
| 3 |
BlackRock US Equity Factor Rotation ETF
DYNF
|
+$494M |
| 4 |
Capital Group Dividend Value ETF
CGDV
|
+$400M |
| 5 |
BDYN
iShares Dynamic Equity Active ETF
BDYN
|
+$388M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI EAFE Growth ETF
EFG
|
+$383M |
| 2 |
iShares US Technology ETF
IYW
|
+$332M |
| 3 |
iShares MSCI USA Quality Factor ETF
QUAL
|
+$177M |
| 4 |
iShares MSCI EAFE Value ETF
EFV
|
+$130M |
| 5 |
iShares Core Universal USD Bond ETF
IUSB
|
+$125M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 8.85% |
| 2 | Financials | 3.63% |
| 3 | Consumer Discretionary | 2.79% |
| 4 | Communication Services | 2.54% |
| 5 | Industrials | 2.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
DFSD
1501
Dimensional Short-Duration Fixed Income ETF
DFSD
$7.09B
| $16.1M | ﹤0.01% |
334,449
+19,486
| +6% | +$938K |
|
1502
First Trust Emerging Markets Small Cap AlphaDEX Fund
FEMS
$241M
| $16.1M | ﹤0.01% |
364,441
-46,611
| -11% | -$1.99M |
|
1503
DT Midstream
DTM
$14.1B
| $16.1M | ﹤0.01% |
142,355
+17,578
| +14% | +$1.84M |
|
1504
iShares iBonds 2028 Term High Yield and Income ETF
IBHH
$453M
| $16M | ﹤0.01% |
670,620
+442,051
| +193% | +$10.5M |
|
1505
Shift4
FOUR
$4.2B
| $16M | ﹤0.01% |
206,387
+49,999
| +32% | +$4.65M |
|
1506
McCormick & Company Non-Voting
MKC
$13.7B
| $16M | ﹤0.01% |
238,648
+23,902
| +11% | +$1.67M |
|
|
FPF
1507
First Trust Intermediate Duration Preferred & Income Fund
FPF
$1.07B
| $16M | ﹤0.01% |
833,596
+63,708
| +8% | +$1.21M |
|
1508
NEOS Enhanced Income 1-3 Month T-Bill ETF
CSHI
$1.52B
| $16M | ﹤0.01% |
320,965
-93,964
| -23% | -$4.68M |
|
1509
ALPS Sector Dividend Dogs ETF
SDOG
$1.4B
| $15.9M | ﹤0.01% |
264,802
+12,662
| +5% | +$748K |
|
1510
nVent Electric
NVT
$24.9B
| $15.9M | ﹤0.01% |
161,332
+21,617
| +15% | +$1.88M |
|
1511
MongoDB
MDB
$27.1B
| $15.9M | ﹤0.01% |
51,244
+5,569
| +12% | +$1.43M |
|
1512
Convergence Long/Short Equity ETF
CLSE
$793M
| $15.9M | ﹤0.01% |
609,296
+37,797
| +7% | +$927K |
|
1513
Agilent Technologies
A
$39.1B
| $15.9M | ﹤0.01% |
123,493
+790
| +0.6% | +$95.4K |
|
1514
Steel Dynamics
STLD
$36B
| $15.8M | ﹤0.01% |
113,586
+16,864
| +17% | +$2.21M |
|
1515
Toronto Dominion Bank
TD
$198B
| $15.8M | ﹤0.01% |
197,782
+17,934
| +10% | +$1.35M |
|
1516
AB Tax-Aware Intermediate Municipal ETF
TAFM
$695M
| $15.8M | ﹤0.01% |
622,031
+158,748
| +34% | +$3.95M |
|
|
CTRA
1517
DELISTED
Coterra Energy
CTRA
| $15.8M | ﹤0.01% |
666,598
+3,098
| +0.5% | +$74.7K |
|
1518
Old Republic International
ORI
$10.5B
| $15.7M | ﹤0.01% |
370,127
+23,576
| +7% | +$909K |
|
1519
Tenet Healthcare
THC
$20.5B
| $15.7M | ﹤0.01% |
77,349
-445
| -0.6% | -$79K |
|
1520
Pacer American Energy Infrastructure ETF
USAI
$128M
| $15.7M | ﹤0.01% |
393,988
+35,024
| +10% | +$1.39M |
|
1521
Markel Group
MKL
$23.3B
| $15.7M | ﹤0.01% |
8,208
+1,049
| +15% | +$2.06M |
|
1522
Fidelity Dividend ETF for Rising Rates
FDRR
$739M
| $15.6M | ﹤0.01% |
266,959
+33,890
| +15% | +$1.92M |
|
1523
Dollar General
DG
$28B
| $15.6M | ﹤0.01% |
151,269
-20,190
| -12% | -$2.21M |
|
1524
Innovator US Equity Power Buffer ETF September
PSEP
$846M
| $15.6M | ﹤0.01% |
362,831
+24,085
| +7% | +$1.01M |
|
1525
HubSpot
HUBS
$12.2B
| $15.6M | ﹤0.01% |
33,294
-3,116
| -9% | -$1.57M |
|
Similar funds
LPL Financial's Q3 2025 Portfolio in Review
As of Q3 2025, LPL Financial held 6,030 positions worth $343B, up 14% from $300B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
LPL Financial deployed $23B of net new capital in Q3 2025, opening 481 new positions and adding to 3,569 existing holdings. Its largest new stake was iShares Dynamic Equity Active ETF: 15,367,303 shares worth $389M.
By sector, the portfolio is most concentrated in Technology at 8.8% of assets, up from 8.5% a quarter earlier, followed by Financials and Consumer Discretionary.
On the sell side, the largest reduction was iShares MSCI EAFE Growth ETF, an estimated $383M trimmed.
- LPL Financial's largest Q3 2025 buy was iShares Dynamic Equity Active ETF: 15,367,303 shares worth $389M.
- LPL Financial added most to iShares Core S&P 500 ETF in Q3 2025, an estimated $503M increase.
- LPL Financial's biggest Q3 2025 reduction was iShares MSCI EAFE Growth ETF, cutting an estimated $383M.
- LPL Financial fully exited Hess in Q3 2025, selling an estimated $6.48M.
- LPL Financial's ten largest holdings make up 15% of its $343B portfolio in Q3 2025.
- LPL Financial opened 481 new positions and closed 237 in Q3 2025.
- LPL Financial's portfolio value rose 14% quarter-over-quarter to $343B.
Based on LPL Financial's 13F filing for Q3 2025, filed 12 Nov 2025.